Oil Benchmarks Regain Ground After Yesterday's Losses

by Tim Bonett, KPI Bridge Oil
Wednesday January 4, 2017

Oil benchmarks regained some ground lost yesterday as an assurance was given by Kuwait Petroleum Corp. that it was committed to curbing output.

It has been historically difficult to follow through on production cut agreements but most participants are saying the correct things at this point to keep the market optimistic.

This week’s inventory figures will be reported tomorrow due to Monday's holiday, a draw on crude stockpiles is expected.

Bunker prices were firmer in the primary ports.

WTI February $53.26/BBL UP $0.93/BBL
Brent March $56.46/BBL UP $0.99/BBL

About KPI Bridge Oil

KPI Bridge Oil is one of the world's leading international bunker broking and trading firms. With a network of offices that covers every major time zone, we have an in-depth knowledge of ports and bunker markets around the world. Our access to real-time market information and long-established credit lines with suppliers means we use our buying power in the right place and at the right time. All this ensures our customers enjoy competitive prices - and on favourable terms.

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